Top five cities where its cheaper to rent than buy in California saving families thousands

For many California families, renting isn’t just the cheaper option—it can mean keeping tens of thousands of dollars compounding in the stock market every year.A comparison of home prices and rents shows California dominates the list of America’s least affordable places to buy a home, according to a new report from Zumper.In several cities, the monthly cost of owning a home is thousands of dollars higher than renting a similar property.The biggest gap is in San Jose, where families who rent instead of buy save about $8,593 a month, or more than $103,000 a year.The city has the nation’s highest price-to-rent ratio at 55.0, based on a median home price of $2,030,000 and a median monthly rent of $3,073.Anaheim ranks second.Renting instead of buying saves families about $5,702 a month, or roughly $68,400 a year.California's top news, sports and entertainment delivered to your inbox every day.

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Never miss a story The city’s median home price is $1,442,900, compared with a median monthly rent of $2,514, giving it a price-to-rent ratio of 47.8.San Francisco renters are also coming out far ahead.California Post News: Facebook, Instagram, TikTok, X, YouTube, WhatsApp, LinkedInCalifornia Post Sports Facebook, Instagram, TikTok, YouTube, XCalifornia Post Opinion California Post Newsletters: Sign up here!California Post App: Download here!Home delivery: Sign up here!Page Six Hollywood: Sign up here!Buying a median-priced home costs about $3,832 more each month, meaning renters save nearly $46,000 a year.The city has a median home price of $1,350,000 and the highest median rent on the list at $3,926 per month, resulting in a price-to-rent ratio of 28.7.In San Diego, renters save about $3,208 every month, or about $38,500 a year.The city’s median home price is $1,050,000 and the median rent is $2,818, producing a pr...